Atlanta, GA – July 23, 2021–There are numerous individuals that consider buying a home every day. There are those that have never bought a home and hold back due to being unable to finance a property. There are mortgage options available that provide first time buyers, and even repeat buyers in certain situations, the opportunity to buy a home without paying when closing occurs. The only costs they face are the closing costs commonly associated with closing on a property. There are several types of loans that will allow a homebuyer to put three percent down. Mortgage insurance premiums can be found that include no or low-down payments options, but this is not always true.

Deciding if a no-down payment mortgage is the way to go involves several things. The current home buying market is ideal for buying a home. Current rates are low compared to previous years. This means that the amount being paid monthly is less.

No down payment loans are offered through the USDA. This makes many individuals believe that only those living in rural areas and that is not true. The goal if this loan is to help lower income individuals be able to purchase a home regardless of their location. Many individuals who benefit from the USDA loan live in areas that are not rural.

The USDA loan benefits reach beyond the no down payment. It does not have a maximum price you can spend, and the upfront fees can be included in the total balance of the loan. Rates are usually lower, and it can come with repairs or improvement financing. The HomeReady loan uses the income of every individual residing in the home to qualify and approve the loan. This comes with reduced mortgage rates. The FHA loan also comes with lower mortgage rates and provides options for individuals that may have lower credit scores to become homeowners.

There are many benefits to becoming a homeowner. Being unable to be approved for a loan is a large reason that individuals do not purchase a home. There are many options available for those with lower income or bad credit scores beyond the ones previously mentioned. Moreira Team can help you find the right mortgage and assist you in beginning your journey to homeownership. Their highly experienced professionals will work diligently to help you find the loan you need.

To get started call them at (404) 238-7888 today!